Boat Financing

Hey guys I'm looking into buying a couple year old or maybe even new Moomba Mobius. I'd like to stay around or below 30k. My question is if I finance one of these for 15 years am I going to be backwards in the loan until I have it payed off? Assuming I put little to no down payment on it. I'd like to always have the option of selling it without it being worth less than I owe on it. Any good advice here would be appreciated. Thanks.

(Message edited by cajun on February 06, 2005)

pay cash

What is making you look at the Moomba, Corey? I haven't been on the new XLV, but if you're trying to stay under $30k, I'd assume you're not talking about that boat anyways. I have, however, been on a Mobius V (2002 I think) and on a normal d-drive mobius (2000), and both were decent, but nothing special. Just my opinion, but they seemed cheaply made, and the wake was poor. Maybe we didn't have enough weight, who knows.

I will say for $30k, I would not be going with a couple year old Moomba. Why not look into a 2000-2001 Wakesetter VLX, a 2000 X-star, or a 1995-1997 Correct Craft Super Sport?

Just some other ideas for you to bounce around.

I'd think that you would be upside down in the loan for most of the term. If your buying used there will be a good chance that the boat will be worn out before your loan has been satisfied unless your willing to drop 10k or whatever it is to re-power a boat.
And do Moomba boats hold there value ? What do you think you could get for a 7 or 10 year old Moomba boat with a lot of hours on it ? My guess would be not much.
IMHO it's not realistic to carry a boat loan like that and think that you can get out of it with out losing money.

Here's an example of what I'm talking about.

http://www.wakeworld.com/MB/Discus/messages/8/210659.html?1107638344

for 30k look for a new Sanger 210!!!

Hey corey. Get whatever boat makes you happy. Call Michelle Folsom at Cope and McPhetres in Santa Clara, ask her for the name of someone who would finance you for a new boat. She is the Financing Guru for Cope. Financing specials are offered by some manufacturers, I dont know about Moomba. She will give you the right information and some bank contacts. Financing a boat is like financing anything. Look for value of the product, Value of the product after purchase, holding power of the value. Think of the first 8 years of payments on a 15 year loan as the lease. Because those payments will be mostly interest. Try to come up with 10-15 percent down if possible, it lowers the monthlies down a bit. Good Luck! (paying cash is ALWAYS the right move)

If you do your do dillegence you can always find a heck of a deal out there. Go to Boattrader online check it everyday, look in your local calssifieds or here on wakeworld. I looked for 6 omonths before I bought my boat. I coupld probabbly sell it and make 4-5 grand becasue I don;t buy anything unless I feel its a really good deal.

Hey COREY...IF YOU ARE INTERESTED, I know a guy who is a member of the outh Bay Boarders club who is selling a 2002 mastercraft X-star. I think he might be around your price range. This is a great boat, I have ridden behind it a few times. If you are interested, his name is Ron Starnes. I can let him know you might be interested.

First off thanks for all the great replies. Howie, that does sound very tempting. However, I'm not quite ready to buy yet. I have some other things to take care of first so it will probably be a few months before I could actually buy anything. Everyone, I guess what I really liked about the moombas was, the tower, the graphics, colors, the layout, and of course the price. Whether they are a quality boat, that I don't know. Maybe that's what I should be looking more into. Can anyone give me any more info on the quality of these boats? In everyone elses experience do they throw a bad wake in comparison to the other boats mentioned? Maybe moomba isn't the way to go. The boat will be used about 80% for wakeboarding and 20% for family fun, tubing and just cruising around. Thanks.

Hey Corey, I own a 2004 Mobius LSV and we love it. Every boat made has people who love and hat them. The Moomba comes with the Indmar engine and was a big draw for me. We looked at a lot of different boats and bought the Moomba. The only thing I have noticed is the depth (seating height & lack of plush interior. If I had it to do all over again with one season behind me with the Moomba I would buy it again. I paid around $32,500.00 for mine Loaded 5.7EFI,Heater,Bow Lights,Racks,Bimini,Balast. I don't care what brand it is, I just like seeing more and more inboards on the water. We are a small percentage of the boating world and we know why we drive what we drive.

my dealer has a 2001 Malibu LSV for $31k low hours with tower, etc.

Hey Corey...if you are interested and live in Northern California, I belong to a newly formed wakeboard club. With us you would be able to ride behind Mastercrafts, Malibus, Sangers, Supras, MB Sports and Moombas. You might get a better idea of what you are looking for. As far as quality, I have never heard anything bad about Moomba that was proven, other than you have to weight them a bit more than average for a decent wake.

Actually I live in Minnesota but that would be great. I think I've decided on the Moomba. Now just to sell some toys.